Getting to the bottom of who’s on top of Canada’s discount brokerage market

In search of Canada’s best discount brokerage

Getting to the bottom of who’s on top in the Canadian discount brokerage market is a lot trickier than it seems. After all, one would assume that winning the crown of “best discount brokerage” is fairly difficult to do and also when a discount brokerage gets that award, it means they’re actually “the best”. In our ongoing search to find an answer to the popular question “who is Canada’s best discount broker?”, we found a curious answer – it depends on what is being measured.

Over the past year, 7 of the 14 Canadian discount brokerages have been given titles such as:

Canada’s #1 Direct Investing Brokerage

Best Canadian Online Broker

Canada’s Top Online Discount Brokerage

Best Discount Brokerage

#1 Online Brokerage for Client Service in Canada

Highest in Investor Satisfaction

Top Bank-Owned Online Brokerage

With so many high achievers to choose from, it seems hard to believe that Canadians would have any kind of struggle finding a great discount brokerage. According to these stats, almost 50% of the Canadian discount brokerage providers are “the best” at something, if not the best outright. It stands to reason that if the discount brokerages are doing such a great job, then clients would also be satisfied with the service they are getting. The data, however, paints a different picture.